Oil Sands Mining News

Teck Resources to buy Toronto’s AQM for $25 million

Move will give the Vancouver miner 80% ownership of Zafranal Peru copper mine project

Are the Saudis about to reveal the best kept secret in oil?

Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades.

Miners increased spending positive, but far from reaching staff just yet

While most miners have managed to straighten the balance sheets, they have not began preparing to deal with a new looming risk —their ability to access workers with the skills needed in an upswing.

Suncor Energy sees higher output, lower spending in 2017

Canada’s largest oil and gas company expects production to rise by more than 13% next year and spending to fall by more than $1 billion.

IEA warns global markets to remain flooded with oil without OPEC cut

Escalating production from both the OPEC and other global players, including Russia, Brazil and Kazakhstan, could lead to relentless supply growth, the IEA said.

Japex postpones oil sands expansion project to mid-2017

Move will push up costs by Cdn$250 million ($187M).

Canadian oil sands giant testing autonomous haul trucks

The largest Canadian oil sands producer confirmed last week it has embarked on a one-year pilot project involving the use of six 400-tonne Komatsu autonomous haulers in an isolated part of Suncor's mine site in northern Alberta.

Electric cars to reshape copper and oil demand

EVs could demand enough copper, other metals to dwarf oil market fallout: BHP

Here’s how Suncor increased productivity, cut incidents with blended training

Suncor experienced a 50% reduction in incidents and a 3.5% productivity increase by training trucks operators using both computer-based and hands-on tools.

Canada’s Alberta wants to cap oil sands emissions

If passed and enacted, the ruling will forbid oil sands producers from collectively emitting more than 100 megatonnes of greenhouse gases a year.

Trans Mountain pipeline is nowhere close to approval

Kinder Morgan expects a final decision on pipeline twinning process within four to six weeks.

Can oil markets survive an OPEC implosion?

A technical meeting that was supposed to iron out some wrinkles for a deal to cut oil production ended in acrimony over the weekend, and OPEC's effort at coordination could be at yet another impasse.

Suncor Energy sells Petro-Canada Lubricants business for $1.125 billion

Sale includes PCLI's production and manufacturing centre in Mississauga, Ontario and the global marketing and distribution assets held by PCLI including its global offices.

Equity markets all but closed for mining IPOs

Miners have to look at debt, private investors and alternative financing like pre-pays for growth capital according to new report.

Six months after wildfires, Canada’s oil sands now hit by DiCaprio’s new film

Director Fisher Stevens recently said he was "really horrified" by how the landscape looked in north-eastern Alberta.

Coal rally, cost cuts help Teck Resources swing to profit

The mining giant, North America's largest producer of steel-making coal, has raised its production forecast for the year.

Auspice Capital Advisors launches GAS – the only ETF tied to Canadian natural gas globally

Investors and market participants can now actively monitor and speculate outright on the price of Canadian natural gas.

Oil sands producers face looming bottleneck, even with Trans Mountain pipeline expansion

Oilsands producers are likely to face a pipeline shortage in coming years, even amid growing optimism that a major pipeline could soon receive federal approval and ease industry’s pipeline constraints.

Oil prices to rise in 2017: World Bank

The new forecast is a response to OPEC's decision to limit production after a long period of unrestrained output.

BHP Billiton to lose chairman Jac Nasser next year

He said he had intended to announce his retirement last year but chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil.

Tires are a top five cost for a miner

KalTire Canada's VP of Operations talks about company's innovations when it comes to monitoring, changing and recycling tires.

World’s top miner BHP Billiton finally sees signs of recovery in mining

BHP is not the first major player to flag green shoots in the mining industry. Caterpillar, the world's largest heavy machinery maker, said the same last month.

Suncor and MCFN announce agreement for equity partnership in East Tank Farm Development

Suncor and Mikisew Cree First Nation today announced the signing of a participation agreement for the purchase by MCFN of a 14.7% interest in Suncor's East Tank Farm Development.

Positive signs put Canadian junior miners in a good position for recovery – PwC report

Investors have seen a rise in the market capitalization of top junior mining companies on the TSX Venture Exchange by more than 100% compared to last year.

Canada’s oil industry to lose $10 billion this year

The Conference Board of Canada also expects the oil industry’s losing streak to last three years, from the last quarter of 2014 through to the second quarter of 2017.